You have never liked the colour of your sitting room wall. It’s a kind of sky blue which looks dated. You’re not sure what colour it should be though, and you have been thinking about it for along time.
You have a choice to make. If you choose to keep thinking about it then the wall will not change colour by itself.
We like to have choice, it’s a fundamental of our consumer society and includes the right to choose not to make a choice until we are ready, or maybe not at all if we finally decide that the status-quo is our preferred option.
All well and good if your decision is centred on the Dulux colour chart. But what if the choices you have are about how best to use the wealth that you are fortunate enough to have accumulated so far in your life?
With the accumulation of wealth comes the responsibility of how best to use it for the benefit of yourself and others. Unless you are extremely wealthy you can’t do it all, so your wealth choices are the degree to which you wish to favour one option over another.
If you want to support your children into adulthood, then maybe that new house on the coast will have to wait. If you want to retire early to learn the piano, then maybe your partner is going to have to work a little longer.
The first step is to identify all the possible wealth choices you are likely to have, both now and in the future. As this is a matter of prioritisation you cannot make the best decisions until you have identified all the options.
The alternative is to react to each situation as it presents itself, much like jumping hurdles sequentially in a race. The most important option worthy of your attention and your wealth simply becomes the next one you have to jump.
If you don’t identify and then prioritise your wealth choices, then you can be sure that life will make the choices for you. People will die, babies will be born, children will grow up, summers will come and go and tax demands will arrive. The river will keep flowing and the colour of your life will slowly change.
If you don’t know what your choices are, and which are the ones that will make you happy, then it is serendipity that will decide whether your life will be painted in a colour you like.
